Brand impact metrics is an indication of the overall status of the business and measures overall awareness of the brand; the important and its meaning whether it is delivering the stakeholder's value or increasing a customers purchase intent. Utilizing a well thought-out and balanced set of metrics drives objective decision-making and aids in the development of your brands.
Measuring your branding efforts is important to ensure how effective and successful in achieving your goals and a way of determining whether the money spent is well-generated in return on investment.
Importance of Brand Metrics
Provides decision through a transition or architecture process
Understanding the performance both internally and externally
Sustaining an organizational focus and communications
Helping to allocate resources more effective
Brand recall is an extent to which a brand name is recalled as a group of product category.
Brand association is another method to find out if there are changes in your branding efforts and evaluating your consumers about your brand.
This technique used to evaluate a product with no benefit and influence of the brand name.
Example
Select consumers randomly to participate in your experiment. You may prepare samples of your product and your competitors’ products in the following ways:
a) Standard, plain packaging with no brand names printed
b) Standard, plain packaging with brand names printed
Tip
Get the participants to try out the samples and fill out a questionnaire on the quality of the various samples using a 5-point or 7-point semantic differential scale. Compare the change in perceived quality of each sample after the brand names have been disclosed.
If consumers rate the quality of your sample higher after the disclosure of brand names, then it shows the positive association your brand has gained.